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Santos wrests control over Darwin LNG in $1.3bn deal

The Australian independent is buying over ConocoPhillips’ stakes in Darwin LNG and other northwestern Australian assets. The deal, carrying a $1.39 bn price tag, also calls on Santos to fork out $75m more on reaching a final investment decision for the Barossa field development that is now confirmed as a backfill for Darwin LNG

The deal marks ConocoPhillips’ exit from northwestern Australia but allows Santos to take over the driver’s seat as the new operator of the Barossa backfill project intended to extend the production life of the country’s second-oldest LNG export terminal in Darwin

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